Fitch alters EnLink view to positive

Fitch Ratings said it revised the outlook for both EnLink Midstream, LLC (ENLC) and EnLink Midstream Partners, LP (ENLK) to positive from stable.

“The positive outlook revision reflects ENLC's leverage (total debt with equity credit to operating EBITDA), which has improved faster than previously forecasted, and is expected to decline below Fitch's positive 4.5x leverage sensitivity by YE 2022. Sustained leverage below positive sensitivity threshold over a couple of quarters would be a main trigger for an upgrade,” Fitch said in a press release.

Concurrently, the agency affirmed the long-term issuer default rating at BB+ and senior unsecured rating at BB+/RR4. Fitch also affirmed ENLK's preferred equity ratings at BB-/RR.

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